Raymond James Downgrades M&T Bank Corp. to Market Perform (MTB)
M&T Bank Corp. (NYSE:MTB) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $120.00 price target on the stock. Raymond James’ target price would suggest a potential upside of 7.36% from the company’s current price.
Shares of M&T Bank Corp. (NYSE:MTB) traded down 0.20% during mid-day trading on Tuesday, hitting $111.77. The stock had a trading volume of 2,490,850 shares. M&T Bank Corp. has a one year low of $95.68 and a one year high of $119.54. The stock has a 50-day moving average of $114.7 and a 200-day moving average of $114.7. The company has a market cap of $14.557 billion and a price-to-earnings ratio of 12.72.
M&T Bank Corp. (NYSE:MTB) last posted its quarterly earnings results on Friday, January 17th. The company reported $1.74 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.94 by $0.20. During the same quarter last year, the company posted $2.16 earnings per share. On average, analysts predict that M&T Bank Corp. will post $8.57 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Corp. in a research note to investors on Monday. They now have a $118.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of M&T Bank Corp. in a research note to investors on Tuesday, January 14th. They set a “neutral” rating on the stock. Finally, analysts at Barclays upgraded shares of M&T Bank Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, January 6th. They now have a $135.00 price target on the stock, up previously from $125.00. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $122.33.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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